Marketing

Madison Media exits Sri Lanka

| Updated on April 04, 2021

Sam and Lara Balsara   -  SHASHI ASHIWAL

Media Factory has purchased the majority stake held by Sam and Lara Balsara of Madison World in Madison Media Sri Lanka Pvt. Ltd. The company will now be a fully owned subsidiary of Media Factory Pvt Ltd.

Sam and Lara Balsara have wholly exited the Sri Lanka business. He has resigned as a director of Madison Media Sri Lanka Private Ltd. The company’s name has been changed to Midas Media Pvt Ltd. Says Sam Balsara, Chairman, Madison World, India, “We entered the Sri Lanka market 12 years ago with the launch of Airtel in the country. Over the years we have built some great relationships both personally and professionally and I hope to continue those. I wish the current Directors of Media Factory and Midas Media all the very best.”

Published on April 04, 2021

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